From 1949 to today, China has experienced dramatic changes in
its economy and urban development. This book examines these changes
and looks at one city, Shenzhen, in detail. The performance and
behavior of a fledgling property market in the transitional economy
are analyzed in the backdrop of real estate commodification and
marketization. Students and researchers in urban geography, urban
planning, economics, business, and real estate will find this
monograph lucid and original.
Two distinctive periods divide the last fifty years of
development in China. The period 1949 to 1978 was dominated by
central planning. After 1978, however, economic reforms brought a
new property market to many of China's cities. The economic surge
of this period has transformed these cities and helped create new
metropolises. The special economic zone of Shenzhen grew from what
was, until 1980, a landscape predominantly made up of rice paddy
fields and traditional villages. By 1995, the population of the
city grew to more than two and a half million. Two modes of land
provision are identified as the main contributors to Shenzhen's
urban development process, which is also echoed in other Chinese
cities. Incremental urban land reforms are elaborated within a
broad framework of institutional change, while marketization has
brought many changes to Chinese society. Continued urban reform
toward a market economy seems now irreversible.
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